New Delhi : Prime Minister Narendra Modi on Wednesday termed the Union budget “historic”, remarked as the “first budget of Amrit Kaal” and said that it would establish a strong base to fulfill the aspirations and resolution of a developed India.
“Budget will give priority to the deprived and strives to fulfill the dreams of the aspirational society, the poor, farmers and middle-class people,” said PM Modi while congratulating Nirmala Sitharaman and his team for this budget in a televised address after the presentation of the Union budget.
Moreover, the PM underlined the potential of the middle class in realizing the dreams of 2047. He also highlighted the reduction in tax rebates as well as the simplification, transparency and seeping up of process. “Our government that always stood with the middle class has given huge tax relief to them,” PM Modi said.
The Prime Minister called the traditional artisans such as carpenters, iron smiths, goldsmiths, potters, sculptors and many others as the creators of the nation. “For the first time, the country has come up with many schemes as a tribute to the hard work and creation of these people. Arrangements have been made for training, credit and market support for them. PM Vishwakarma Kaushal Samman i.e. PM ViKaS will bring a big change in the lives of crores of Vishwakarmas” the Prime Minister said.
From women living in the cities to villages, employed to homemakers, the Prime Minister informed that the government has taken significant steps such as Jal Jeevan Mission, Ujjwala Yojna and PM Awas Yojana etc. that will further empower the welfare of women.
He emphasized that miracles can be performed if Women Self Help Groups, which is a sector with extreme potential, is further strengthened. Underlining that a new dimension has been added to Women Self Help Groups in the new budget with the introduction of a new special savings scheme for women, the Prime Minister said that it will strengthen women especially the homemaker from common families.
This Budget, the Prime Minister said, will make cooperatives a fulcrum of the development of the rural economy. The government, he continued, has made the world’s largest food storage scheme in the co-operative sector. An ambitious scheme to form new primary co-operatives has also been announced in the budget. This will expand the area of milk and fish production along with farming, farmers, animal husbandry and fishermen will get better prices for their produce.
Emphasizing the need to replicate the success of digital payments in the agriculture sector, the Prime Minister said that this budget comes with a big plan for digital agriculture infrastructure.
Noting that the world is celebrating the International Year of Millets, Modi said there are many types of millets in India with multiple names. The Prime Minister said that special recognition of millets is necessary when it is reaching households all over the world.
“This superfood has been given a new identity of Shree-Anna.”, the Prime Minister said as he underlined that small farmers and tribal farmers of the country will get economic support along with a healthy life for the citizens of the country.
This budget, Modi continued, will give an unprecedented expansion to Green Growth, Green Economy, Green Infrastructure, and Green Jobs for a Sustainable Future. “In the budget, we have laid a lot of emphasis on technology and the new economy. Aspirational India of today wants modern infrastructure in every field like road, rail, metro, port, and waterways. Compared to 2014, investment in infrastructure has increased by more than 400 percent”, the Prime Minister said as he underlined the unprecedented investment of ten lakh crores on infrastructure that will give new energy and speed to India’s development. He informed that these investments will create new employment opportunities for the youth, thereby providing new income opportunities to a large population.
The Prime Minister also touched upon the Ease of Doing Business which is taken forward through the campaign of credit support and reforms for industries. “An additional loan guarantee of Rs 2 lakh crore has been arranged for MSMEs”, the Prime Minister informed as he noted that increasing the limit of presumptive tax will help MSMEs to grow. He also added that a new arrangement has been made for timely payments by big companies to MSMEs.
